{"id":18171,"date":"2016-09-12T10:45:13","date_gmt":"2016-09-12T05:15:13","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=18171"},"modified":"2016-09-12T10:45:13","modified_gmt":"2016-09-12T05:15:13","slug":"monday-12th-september-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/monday-12th-september-european-open-briefing\/","title":{"rendered":"Monday 12th September: European Open Briefing"},"content":{"rendered":"<h4>\n\t<strong>Global Markets:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAsian stock markets: Nikkei down 1.70 %, Shanghai Composite declined 2.10 %, Hang Seng fell 2.70 %, ASX 200 lost 2.10 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1332 (-0.20 %), Silver at $19.01 (-1.85 %), WTI Oil at $45.20 (-1.50 %), Brent Oil at $47.40 (-1.30 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.67, UK 10 year yield at 0.86, German 10 year yield at -0.02\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tJapan PPI (MoM) Aug: -0.3% (est -0.1% prev 0.0%)\n\t<\/li>\n<li>\n\t\tJapan PPI (YoY) Aug: -3.6% (est -3.4% prev 3.9%)\n\t<\/li>\n<li>\n\t\tJapan Machine Tool Orders (MoM) Aug: 4.9% (est -2.9% prev 8.3%)\n\t<\/li>\n<li>\n\t\tJapan Machine Tool Orders (YoY) Aug: 5.2% (est 0.3% prev -0.9%)\n\t<\/li>\n<li>\n\t\tPBoC Fixes Yuan at 6.6908 (prev 6.6684)\n\t<\/li>\n<li>\n\t\tBoJ to Weigh Different Approach, But Markets Wonder What Next &#8212; Nikkei\n\t<\/li>\n<li>\n\t\tFed&#39;s Kaplan: Progress Toward Full Employment, Lagging On Meeting Inflation Target\n\t<\/li>\n<li>\n\t\tFed&#39;s Kashkari: Monetary Policy &#39;Largely Doing What It Can&#39; To Support Robust Recovery &#8212; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>CFTC Positioning Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tEUR 93K short versus 82K short last week\n\t<\/li>\n<li>\n\t\tGBP 90K short versus 92K short last week\n\t<\/li>\n<li>\n\t\tJPY 54K long versus 64K long last week\n\t<\/li>\n<li>\n\t\tCHF 1.4K long versus 8K long last week\n\t<\/li>\n<li>\n\t\tCAD 21K long versus 22K long last week\n\t<\/li>\n<li>\n\t\tAUD 39K long versus 43K long last week\n\t<\/li>\n<li>\n\t\tNZD 6.1K long versus 1.8 K long last week\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tAsian stock markets are all lower, with Chinese and Australian markets down more than 2 % on the day, as rates rose sharply on Friday and investors see an increased chance of a Federal Reserve rate hike this month. As a reminder, the Fed will announce its decision on September 21<sup>st<\/sup>.\n<\/p>\n<p>\n\tThe FX market was rather quiet overnight, despite decent volatility in the equities and commodities. EUR\/USD opened around 1.1225 in Asia and rose to a high of 1.1250. GBP\/USD started the new trading day at 1.3260 and traded in a 1.3250-75 range. USD\/JPY consolidated between 102.60 and 102.30 and remained surprisingly bid, despite larger losses in the Nikkei index.\n<\/p>\n<p>\n\tAUD\/USD opened at 0.7540 and traded in a 0.7520-50 range overnight. Similar price action was seen in NZD\/USD, which consolidated between 0.7315-45.\n<\/p>\n<p>\n\tThere are no major data releases or events scheduled for today, so it could remain quiet. This week&rsquo;s main events will be UK inflation &amp; unemployment data, the SNB and BOE rate decision and US inflation data. For further details, please see the calendar below.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t14:30 BST &#8211; UK CB Leading Index\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>The Week Ahead:<\/strong><br \/>\n<\/h4>\n<p>\n\t<u>Tuesday, September 13th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t02:30 BST &#8211; Australia NAB Business Confidence\n\t<\/li>\n<li>\n\t\t03:00 BST &#8211; Chinese Industrial Production\n\t<\/li>\n<li>\n\t\t03:00 BST &#8211; Chinese Retail Sales\n\t<\/li>\n<li>\n\t\t07:00 BST &#8211; German CPI\n\t<\/li>\n<li>\n\t\t08:15 BST &#8211; Swiss PPI\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Italian Industrial Production\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK CPI\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; German ZEW Economic Sentiment\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone ZEW Economic Sentiment\n\t<\/li>\n<li>\n\t\t23:45 BST &#8211; New Zealand Current Account\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Wednesday, September 14th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t01:30 BST &#8211; Australia Westpac Consumer Sentiment\n\t<\/li>\n<li>\n\t\t05:30 BST &#8211; Japanese Industrial Production\n\t<\/li>\n<li>\n\t\t07:45 BST &#8211; French CPI\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Italian CPI\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Unemployment Rate\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Claimant Count Change\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Average Earnings\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone Industrial Production\n\t<\/li>\n<li>\n\t\t15:30 BST &#8211; US Crude Oil Inventories\n\t<\/li>\n<li>\n\t\t23:45 BST &#8211; New Zealand GDP\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Thursday, September 15th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t02:00 BST &#8211; Australia MI Inflation Expectations\n\t<\/li>\n<li>\n\t\t02:30 BST &#8211; Australia Employment Change\n\t<\/li>\n<li>\n\t\t02:30 BST &#8211; Australia Unemployment Rate\n\t<\/li>\n<li>\n\t\t06:00 BST &#8211; Singapore Retail Sales\n\t<\/li>\n<li>\n\t\t08:30 BST &#8211; SNB Rate Decision\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Retail Sales\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone CPI\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone Trade Balance\n\t<\/li>\n<li>\n\t\t12:00 BST &#8211; Bank of England Rate Decision\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Retail Sales\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Current Account\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Initial Jobless Claims\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Philadelphia Fed Manufacturing Index\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US PPI\n\t<\/li>\n<li>\n\t\t14:15 BST &#8211; US Industrial Production\n\t<\/li>\n<li>\n\t\t14:15 BST &#8211; US Manufacturing Production\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Friday, September 16th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t09:00 BST &#8211; Italian Trade Balance\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US CPI\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Michigan Consumer Sentiment\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 1.70 %, Shanghai Composite declined 2.10 %, Hang Seng fell 2.70 %, ASX 200 lost 2.10 % Commodities: Gold at $1332 (-0.20 %), Silver at $19.01 (-1.85 %), WTI Oil at $45.20 (-1.50 %), Brent Oil at $47.40 (-1.30 %) Rates: US 10 year yield at 1.67, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/monday-12th-september-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 12th September: European Open Briefing<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":12469,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-18171","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18171","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/comments?post=18171"}],"version-history":[{"count":2,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18171\/revisions"}],"predecessor-version":[{"id":18173,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18171\/revisions\/18173"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/media\/12469"}],"wp:attachment":[{"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=18171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=18171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=18171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}